Cellcor, Cytogen deal

CYTO signed a definitive agreement to acquire CLTX, a Newton, Mass., developer of autolymphocyte therapies (ALT) for cancer and infectious diseases.

CYTO (Princeton, N.J.) will issue 0.6 shares of its common stock for each of the 5.5 million common shares of CLTX outstanding, and 218.94 shares of CYTO common for each of the 5,250 shares of CLTX preferred stock outstanding. Hillman Medical Ventures, which owns 50.5 percent of CLTX's common stock and 95.2 percent of the preferred stock, has agreed to vote in favor of the merger. ...